Cyber Monday

Cyber Monday started 2 years ago as a marketing gimmick in search of shoppers, but has now become a trend that retailers embrace. In a survey of roughly 120 members of Shop.org, the trade group for online retailers, nearly three-quarters said they would offer discounts today for Cyber Monday, as the first Monday after Thanksgiving has become known. Shop.org said 32 percent of adults surveyed last week said they would shop online on Cyber Monday, up from 27 percent in 2006. retailers hope this will create and earlier demand for goods, as well as be a great way for them to report gains in a time that could be a cheerless holiday. Analyst have predicted that consumer spending will be down this holiday due to rise in fuel cost and credit crisis. Doug Hart, an analyst at BDO Seidman, an accounting and consulting firm, said Cyber Monday sales would account for about 12 percent of the expected $39 billion in online revenue this holiday season. That is similar to the 15 percent share of holiday sales recorded by offline retailers on the day after Thanksgiving, known as Black Friday, he said.
Some online merchants see Cyber Monday promotions as an antidote to the crowds and traffic jams of Black Friday, and are hoping this year’s online promotions attract shopping refugees.